Autodesk To Acquire Upchain For Faster Cloud Data Transport

Software company Autodesk Inc ADSK inked an agreement to acquire instant-on, cloud-based product lifecycle management (PLM) and product data management (PDM) solutions provider, Upchain.
The acquisition increased Autodesk’s association across the decentralized product value chain, irrespective of the CAD system.
Upchain had created a unified cloud platform by eliminating the PLM and PDM technologies’ barriers by putting data at the center of the product development process.
The financial terms of the transaction were not disclosed.
Autodesk customers will be able to transport data by integrating Upchain with its existing offerings easily, Autodesk CEO Andrew Anagnost said.
Autodesk acquired water infrastructure software provider Innovyze for $1 billion in Feb.
Autodesk held $1.8 billion in cash and equivalents as of Jan. 31, 2021.
Price action: ADSK shares traded higher by 1.84% at $299.76 on the last check Thursday.